Today is key for BTCUSD near-term prospects
Updated
Today is key.
A strong close below the 50 day moving average will also be a close below recent trendline and a bearish signal. We could then see a move down to the 100 day moving average, which would coincide with the psychological level of 10k.
However, a close today above the opening price of 14481 would show a rejection of the 50 day moving average, a rejection of the trendline, and also a rejection of the monthly pivot. This would be a strong bullish signal from tomorrow onwards.
Today is key. We are at the crossroads.
A strong close below the 50 day moving average will also be a close below recent trendline and a bearish signal. We could then see a move down to the 100 day moving average, which would coincide with the psychological level of 10k.
However, a close today above the opening price of 14481 would show a rejection of the 50 day moving average, a rejection of the trendline, and also a rejection of the monthly pivot. This would be a strong bullish signal from tomorrow onwards.
Today is key. We are at the crossroads.
Note
Now today becomes key :-) Looking bearish, but we wait for a close below the 50 SMA / trendline / monthly pivot for confirmation of short bias.
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